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Cabinet okays sale of India's first pharma firm
Dec 29, 2016
In the second strategic sale approval in over 12 years, the Cabinet today cleared the sale of India's first pharma company Bengal Chemicals and Pharmaceuticals Ltd as well as Hindustan Antibiotics Ltd after selling their surplus land.
The Cabinet headed by Prime Minister Narendra Modi also approved closure of Indian Drugs and Pharmaceuticals Ltd (IDPL) and Rajasthan Drugs and Pharmaceuticals Ltd (RDPL).
Cabinet okays sale of India's first pharma firm - The Economic Times
Proceeds from sale of land, which would be done through open tender, will go towards meeting liabilities of the companies.